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that little electric dance for us? i don't know -- >> i'm not sure why we were playing eye it's electric" but you can't help but get that awful dance out of your head. anybody that has been to a wedding in the last 15 years has seen that. >> weddings, anyway, we have some corporate news to get you caught up on this morning. you're not going to believe this one. the group includes holders of more than half of the $34.6 billion of preferred sars in the company. the plan reportedly being pitched as a way to bring tens of billions of dollars of private capital back into the capital. treasury has controlled fannie and freddie, of course, for the last five years. >>> johnson & johnson agreed to what could be a $4 billion settlement over hip implants. the deal could include thousands injured. a tentative plan must win court approval. >>> starbucks will be paying kraft food nearly $278 billion after it ended the grocery deal early. it includes damages and legal fees. mondalieze will receive all proceeds from the starbucks/kraft dispute. >> it seems like a lot of money. >> and don't forget, starb
gobble, i'm giving you pilgrim's pride to buy. >> oh my godness. >> don't give him any more of the good stuff. after the first wine. don't give them any more of the good stuff. >> happy thanksgiving. mad money starts right now. >> my mission is simple, to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to mad money. other people want to make friends. i'm just trying to make you a little money. call me at 1-800-743-cnbc. today, i want to talk to you about the big picture. building wealth in general. stocks are just one part, absolutely the most important one, but still just one part of building real wealth. not just living off your paycheck. there's some people, call them the 1%, if you want, who can make enough from their day-to-day income to become truly rich, but for the vast majority of americans, it's simply not enough to get wrou there. you need to hold medic. if you keep watching, i'm going to tell you how to do just that for
states and around the world. but it's a matter of our clients are a little bit more cautious. but i don't know that this quarter or next quarter that you'll see any effect on our business materially. >> and stores products retailer container store, they raised $225 million. the ipo was priced at $18 a share, the top end of its increased price range. stairs are set to start trading on the new york stock exchange today under the symbol tcs. >>> microsoft co-founder paul allen's fund is suggesting microsoft spin off its consumer business. this is big news. the man who manages allen's fortune is now suggesting that microsoft search and xbox business res deextracting from the software business which drives earnings. so i mean, paul allen and bill gates, i don't think they're -- they've been spending@of time together these days, anyway, joe. >> no. and the roys. these guys found or fund companies, whatever it is, they don't -- i don't know, over the years, things happen. i think we'll always be together. >> we'll always be together. >> i saw a picture of gates on the ft today. interesting. wh
for years. it's not a bubble. i don't think the bull cycle is over. by the way, stocks today closed at new all-time highs. the dow up another 128 points. also this evening evening, president obama wrapping up yet another pep rally, cheerleading obama care and probably defending his falsehoods. this time he's in texas. we'll get the reaction from lieutenant governor from that state and perhaps an escape hatch from obama care you need to know about. >>> chris christie gets the really big wins he was hoping for in new jersey. dick morris joining us live this evening. the "the kudlow report," we begin right now. good evening, i'm larry kudlow, this is "the kudlow report." we're live here at 7 p.m. eastern/4 p.m. pacific. the twitter ipo will start trading tomorrow. kayla joins us now. good evening. what have you got. >> it came together before we came on air for "the kudlow report." twitter pricing at $26 per share. it's above the price range, above the increased range when they said they would raise between $23 to $25 for the shares selling to the public. $26 above even that heightened range.
, chris ready. james, good to see you. clinton as usual has the story completely right. what i don't get, you're a clinton guy, what i don't get is obama says jay carney says they understand they will help but they are not doing anything. there's a lot of legislative proposals, as you know, from democrats and clinton -- i mean obama is not supporting them. why? >> first of all he said as jay carney correctly pointed out he told chuck todd on msnbc he would try to keep these people in. understand this is only if you have insurance in the private market, this is only under certain circumstances that this applies. who knows. they may be able to figure a way for these people to keep it. it's not going to apply to whole lot of people anyway. obama has said the same things along the same line that president clinton has. >> i don't know. let me bring chris ruddy in. chris, first of all, bill clinton didn't hedge. bill clinton didn't say if it's the right plan or if it meets regulations. bill clinton said you should keep your promise even if it requires new law. he was very direct and very blunt
people, gee, you can't have that health insurance plan you don't want. now there's someone running in my distinct in virginia for the house of delegates. she's decided, well, doctors probably will have to be forced to accept medicaid patients because that will be necessary to make the system work. and i think people are seeing the kind of intrusiveness and coerciveness as well as the wastefulness of it and saying no way. >> and losing your doctor. i put it bluntly. the liberal entitlement state dream is crumbling before our eyes. okay? that's the way i look at it. and ari, i'll take it to you because i think as bill kristol suggested, i think this has tremendous political ramifications that even obama may not yet fully understand. >> well, we could test some of those tomorrow. virginia is a race where you've had republicans try to run on obama care. it's a state that's traditionally leaned to the right. but i think the democrats are looking very strongly in there. we'll see what happens. in new jersey, chris christie is seen as a moderate by some, and he has participated in aspects of th
beating the street. joe, over to you, sir. >> andrew, i don't -- 21st century fox. i think that's a mistake. you know -- >> you know, i thought it was, but -- >> how can -- it's 20th. is it a different company? >> it's outdated. >> is it a different company? >> no. >> this is the staple at 20th century fox? what is this, y2k? >> remember conan o'brien, in the year 2000 -- >> i know you don't like change. >> 21st century is a clothing store in new york, isn't it? >> century 21. >> it's a cheap clothing store. but i like it. that's where i go. >> just because the date rupert? >> yeah, i believe it was. >> i think they took a poll of the staff, either senior management or the whole place. >> and they said change it to -- >> yep. 20th century was so backwards. >> so i'm going to have to go through this again? >> in a hundred years? >> yeah. >> if you're still living -- >> i'm on the grid and i'm a cyborg. and becky changed her twitter name. yes. >>@joekernanshair is available. how do we know anthony weiner really didn't get -- you don't know whether that's his thing. you got caught.
when it comes to how the insurance markets work? i don't get these guys. >> join the crowd. i get that, too. no quarterback. brad, let me go to you, congressman. yesterday we had these revelations from mr. chow, from the hhs. he says 30 to 40% of the website is not brok is not built. specifically the back payments and the purchasing. my question is even if you got renewals, bob says you have to get it in by the first half of december, how are they going to work this through if you can't pay for it and connect the website to the insurance company? that's the part i don't get. >> that's the big question, right? we can't turn back time and wish it was another day before this all started taking place. people are prepared for this for three years at least on the provider end and people in the insurance business that planned for this for three years and now it's falling oo part because it's not ready. this is an extremely difficult time. the number one diagnoses will be anxiety and stress. this is really a big problem. each day the dominos keep falling. they also see how the rules have chang
. three things you must take care of first. i don't usually address these subjects. sometimes, i feel remiss that i'm not mentioning them more. we don't teach financial literacy in high school in this country and few colleges will teach you a thing about how to manage your finances, although you might learn a ton of stuff about english literature or marxism. this is one of the reasons i wrote, so you can have a personal finance foundation you need to invest in the market. one of the three things you must do before you own a stock, first, this is going to sound boring and it just sucks the life out of everything, but you need to hear it. if you have to, you've got do pay off all of your credit card debt. i like to be as entertaining as possible. i still see people who have it. i'm not one of those zealots who say your credit cards should be cut up or that credit card companies are evil. like a lot of the companies that recommend but the facts are these. if you have credit card debt, you are playing an extraordinarily high interest rate on that to the credit card company. we're talking
when he said here's what i really meant and went on blah, blah, blah. i don't see that the president gets how important politically that was. >> we may have different definitions of apologies. maybe it's a partisan thing. i don't know. i thought an apology is when you say i'm sorry. i watch that had clip and i thought i heard him say i'm sorry. >> i thought he said he was sorry that people didn't understand what he was saying. and sorry that he may not have explained it right. i didn't hear him really say i'm sorry that i said i'd let you keep your insurance and your doctor and we went back on our word. i didn't hear that. i did hear the word sorry, i'll grant you that, but i thought it was a rather sorry performance. >> i think they might feel sorry coming next year because the beggar problems are yet to come. the small group plans got an extension because they renewed off cycle. so they won't start getting dropped until closer to the end of 2014. but i think the biggest problem is people will enroll and try to use the coverage and nip who was previously insured and now on an obama
of the quality -- >> the worst. >> the best doctors don't go near it, is that fair? >> that's absolutely fair. >> these people are going to be ma maltreated. >> it won't collapse. you'll have expanded medicaid. a shrunken exchange that works for poor people and sicker people. it will limp along. >> bob, let me just dispose of the numbers. the numbers look disastrous. are people expecting these numbers to just continue disastro disastrous. >> the numbers have changed in terms of the number of enrollments insurance companies are getting. let me put the numbers in another context for you. 27,000 people in 36 states is 25 people per day per state. in the state of florida and the state of ohio, that's 1 person per hour per day in florida signing up for healthcare.gov. i think one of the incredible stories here that's just not being focused on and reported is how cynical this administration is to tell people to keep try g trying. goodness, they have known these numbers. they knew one person in florida or georgia was getting through and they told them to keep trying. sebelius is kind of like a bagh
his tenure. and made a big change in that. that's helped the policy he believes. >> don't you think he's screwed up the forward guidance in the last go around? everyone expected a tapering down of the bond purchases? >> i agree with you. are we talking about this now or later? >> let's do it now. i don't get to visit with you enough and i love you and i want to visit with you. >> i'm giving him a lower grade because of what happened in june and september. i agree with you complete he. i thinks he done a lot of bold stuff and i think what's done a lot of enkninnovative things bu grade is a "b." there's my "b." because the june and the september messups, i don't think he's go at this communication thing right. i applaud what he's done on transparency. i think the quantitative easing given what happened on the fiscal side had to continue. but i think at the end of the day, he needed to do better on the communications to get it right. >> very amusing. i give him a "b." >> drum roll? >> a little different reasoning but we come out the same. i thought he was fantastic during the crisis of 20
an expanding economy. but with unemployment at 7.3% and inflation at less than 1%, i really don't believe that the fed is going to rein in bond buying for many, many months. but we'll debate that proposition later in the show. >>> plus, now he's sorry? five weeks into the obama care debacle and in an exclusive nbc interview yesterday, the president had this message for the millions who received insurance plan pink slips. was he sincere? you be the judge. >> i am sorry that they are finding themselves in this situation based on assurances they got from me. >> today, president obama changed the subject from obama care to the economy. interestingly, he had a good section on corporate tax reform. you know what? i love it. but will he really push for it? >>> and is the republican party in better shape than you think? following chris christie's commanding blue state victory, a series of polls shows the gop could be poised for more big wins in 2014. all that and more coming up on "the kudlow report" beginning right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." w
's not usually just cisco. is it just cisco in this case? >> no, i don't think so. we saw some bad emerging markets news out of ibm last month. >> i thought that was ibm. didn't you? >> yeah, well, i don't know. china was a big part of that. other emerging markets were looking bad. it didn't necessarily seem like it was just an ibm issue. and i think chambers is underscoring that saying, we saw some ibm and we're going to see it from a lot more -- not everybody, but a lot more. >> we worry about revenue not growing enough. in this case, is revenue actually year over year declining? >> yeah, yeah. >> that's bad. >> analysts have been looking for an uptick of 4% in the fiscal q2, which is the quarter from a year ago. and cisco's guidance is down 8% to 10%. >> that's pretty staggering. >> because not only were the top five emerging markets down 25%, but the declines were accelerating towards the end of the quarter. so this is kind of -- >> what about the tapering? because if you think about all those emerging markets, they were impacted. >> it's the idea -- >> the concept. >> well, that was th
? >> a boomer what? >> boomer -- >> boomer esiason. he wasn't that fast, i don't think. they say it best exhibited the adaptive alacrity of a koala. >> must be an australian thing. >> without being anywhere near as cute as the koala. that's interesting. >> boomer may refer to animals, fictional characters, comics, video games. >> doesn't explain it. >> that's a large male kangaroo. >> that's what we were just told. large male kangaroo. so it doesn't have a pouch then? not all kangaroos have pouches? >> i guess you wouldn't need one if you were male, right? >> unless it was like vestigal. >> if you're male, i don't think you have one? >> i don't think so. unfortunately some of us humans -- you know. we're not carrying babies in our pouch. fisher -- mine's less than it was. you have nothing. fisher will vote next year on the fomz. he wasn't a voting member this year. meantime, one of this year's voting members, yes, jim bullard will join us on set at 7:00 for two hours and we may -- he may be a little different in tone and substance than plausser we talked to on friday. >> they're both haw
lee. see you tomorrow at 5:00. don't go go anywhere. "mad money" with jim cramer starts right now. >>> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends, i'm trying to save you a little money. my job is not just to entertain but to educate and teach you. so call me 1-800-743-cnbc. where can we find the best growth right here right now? isn't that the be all and end all behind so much of we're looking for in the stock market? including today when the dow sank 21 points. nasdaq advancedn .08%. it doesn't matter where we find growth. we always love it when we see it. tonight we hear from regeneron, not only has drugs that are making fortunes for shareholders right now, it also has drugs in the pipeline that could keep that growth going for many years to come. game changing medicines that are disrupting the market and crushing the competition. incl
based on insider insights that the rest of us don't have will be giving their final order indications tonight to their brokers for how much stock they like. i can tell you from people i talked to that many large institutions are simply saying to goldman sachs, the keeper of the books for the deal. look, i do a lot of commission business and i'll take every share i can get. i want 10% of the deal. i want to circle 10% of the deal. that level of demand for a stock is pretty unprecedented, again with the exception of facebook. the reasoning is twofold. first is a good one. these institutional investors are very jazzed, they're excited about the possibility of owning shares in a company that's generated $620 million in revenue and super jazzed about the possibility of revenues increasing to about $1 billion the year after with double the profits. second, though, and this is what worries me about you. the big boys are betting that other less informed investors, people who use twitter and love it like me @jimcramer, people who don't know how to value the stock but just figure how can you go
is an icon already. >> is that what the word is derived from. >> i don't know. >> spelled differently. >> not the word icon. i wonder his name. not either. >>> in other corporate news, the government wants bank of america to pay nearly $864 million in damages after a federal jury found it liable for fraud over defective mortgages that were sold in this case by its countrywide unit. government's also asking for penalties against a former mid level executive at countrywide. the jury found her liable as well. and vc firm andreson horowicz has sold a third of their shares. the shares were sold between 49 and $50. that makes the sale worth more than $111 million. kind of interesting that they decided to do that. the firm still holds more than 4.5 million shares. >> what do you think about that? >> at some point he has to harvest some kind of gains about this. he's still on the board, right? he can't leave but he can't hang out -- he can't be in there all the time. >> you know, some people say it's never bad. stocks do go up and they do go down. >> i remember that barons commercial. the mar
around but we don't. until we get that we won't. >> the business about early renewal program. you mentioned this on the air when we had that wonderful woman who was fighting cancer out in michigan. you gave her some pretty good advice the early renewal program. will obama allow them to extend to -- yeah extend out to 2014. would they allow that? >> right now many insurance companies in many states are allowing people who have received the cancellation letter to do what's called an early renewal. they changed their anniversary date to december 1, 2013. under obama care you don't have to comply with the obama rules in the individual market until the first anniversary after january 1, 2014. so they are suggesting people change their anniversary date to the latest as possible which is december 20, 2014. that way they get a one year reprieve. however not all states allow that. the state of california does not allow it. there are 1 million cancellation letters in the state of california. and the california insurance authority said we're not going to allow -- they said this before, the o
don't we take a look at the markets this morning. >> the big bang theory. >> right. >> let's take a look at the futures this morning. yesterday, you did see the dow closing up by about 21 points. s&p ended up by just over a point. this morning, the dow futures are indicated down by around 26 points. although we did see the markets closing, at least for the dow at an all-time high. the s&p 500 was almost at an all-time high. oil prices this morning are down by about 26 cents. you can see they're back close to 95 cents a barrel for wti. the ten-year note is yielding 2.782%. that yield continues to pick up. people are expecting, after friday's jobs report, tom, that the fed could taper sooner rather than later. that's what we've seen playing out here. >> yes. >> that's tom lee. he will be with us with more on the market. >> how much more do we have to do before we get to him? >> not much. take a look at the dollar, stronger against the euro. and gold prices this morning, at least right now, are barely down by about 80 cents. $ ,2080.30. >>> ross westgate is standing by in london. >>
in pies. kind of gross to me. >> i don't believe that's what the real organization was going to be. the question is, where is the jacket? your jacket. >> over there. >> why, though? you go on for the first time in the history of show over there without a jacket and you do it without comment? >> i do it without comment. >> can you tell me, what were you thinking? >> i didn't think the jacket was looking great. >> you are so vain. you didn't think this one looked as good as your other jackets -- >> can it you, this says more about you than about andrew. >> because i'm obsessed. you are obsessive compulsive. >> the first time in two years. >> i said to myself, i don't like this jacket and then i took it off and what was the end of that. >> that's how it happened. it is big news. by far. i'll tell you, the must read, i love the headlines. my favorite thing today is the very top story, very first headline in the journal the fed released policy minutes saying they do plan to stop bond buying. >> at some point. >> you said it was qe. >> so is it possible that there was a proposal on the t
don't go anywhere. "mad money" with jim cramer starts right now. >> my mission is simple, to make you money. i'm here to level the playing feel for all investors. there's always a bull market somewhere and i promise to help you find it. ""mad money"" starts now! hey, i'm cramer. welcome to ""mad money."" welcome to cramerica. other people want to make friends, i want to make you money. my job is not to entertain you but to make you money. call me. 1-800-743-cnbc. today the dow slipped 9 points, nasdaq declined 44 percent. when the market is down, we always hear about the usual suspects. oh, maybe it's concerns about whether janet yellin the fed chief will consider tapering or not. why don't we blame obama care and people's fears for losing insurance. the walk grinch is stealing christmas. we are beginning to hear the next government shutdown will happen on schedule and this time it will be even worse. why don't we chill the cls climate down entirely? is there any wonder best buy or urban outfit, is talking about an unspeakably holiday season? then you go out to dream force. the celebr
it for 5,000, 6,000, 7,000, i don't know, 10,000 points. who knows? there's a tremendous dearth of supply. the endless buybacks have taken up so much talk and i don't talk about it as much. they take a swing like i did in the fall of 1987 when people hated stocks so much. with that in mind let's consider the state of the dow jones average that blew it out. who blew it and who blew it out? okay. in other words, let's look at the disappointers and how they've done, because this shows you what i'm talking about, a silver lining bull market. perhaps the most disappointing stock in the dow. one that's got a lot of people down is caterpillar. here's one that's done absolutely nothing this quarter after missing the numbers and guiding down big time. whoa, doesn't it say something that the cat's done nothing instead of being crushed? caterpillar caught an upgrade from the bank of america and merrill based on a specious call about power systems. the cat's well behind the market and therefore makes for a terrific catch-up story and it will catch up despite the endless executioners and high inventor
it up? never. >> i don't want to give mine up. >> from my cold dead hands you'll take it. >> i did switch to the iphone, you the by still rely on my blackberry. isn't that amazing? >> absolutely. >> i have both but i wish i could keep it, really. at least they've got us. rooting for them. to stay strong. a new cnbc poll shows investors are not sold on twitter as a stock that is -- especially the young people who use twitter the most. we thought that was interesting. so, why did the company just dramatically increase its ipo pricing range today? take a closer look. ahead of the big deal coming to market this wooeleek. should you buy it when it comes to market thursday? >> google outraged it may have been spied upon by the nsa. but someone -- one of our guests is asking isn't that what google does to its users? is that a fair comparison so make? after all, google does have a user agreement. people accept it. nsa doesn't have a user agreement i know of but we have both sides of the issue coming up. >> fascinating, actually. let's check the markets as we approach the
if they are in effect right now. but remember, many states and insurance companies don't want to do that. in fact, some of the biggest states have already said no to earlier proposals to extend some of these canceled policies into 2014. some states have barred -- that's a practice called early extension. many states have barred that. so, again, it's not clear that this is going to change a whole lot. it may change some policy availability for some people. but i do think it's more about politics than actually changing the policy. >> early renewal. thank you. i didn't know that. let me ask you follow up, next one, tomorrow is a vote on the fred upton bill that would allow people to keep their insurance and actually let new people go back and get the old insurance forever and then i'm going to ask you, after that vote, is there going to be a senate vote? it sort of all seems like a push comes to shove in the senate with the mary landrieu vote. do you think it will happen after today's obama news conference? >> i doubt it. this is one circumstance where gridlock is the president's friend. the prospect of a
. you know, he's got a lot of -- >> i don't know if it was warren or -- >> right. berkshire's move. because -- but, you know, i'm sure warren knows what's going on when almost $4 billion. but it's one of those -- it's a very liquid stock and it's a lot of money, but not a lot for a $400 billion company or whatever exxon is at this point. but it's sort of so solid and so blue chip and, you know, they're going to keep finding oil and gas and we're going to keep buying it from them and running things. and it's just like a buffett -- you know, you don't have to be too -- you don't have to think about it too much. how many ice scars can be find? he tries and goes all over the globe. reminds me of ibm. but i don't know, it seems like it's maybe a better move than ibm, more of a no-brainer almost. i like what yellen said, too. just one comment about that. she said we will continue to ensure a robust recovery with our actions. it's like the one you've been able to orchestrate for the past three or four years. now i know that -- >> arguing counterfactual. >> the counterfactual is there, but
to balance out all the orders. >> oftentimes ipos don't open at the order. >> what time did facebook open? >> facebook was way into the afternoon. the expectation is -- >> there were problems, but there's going to be a lot of people. >> right. 10:00 to 11:00 is not when. >> 10:00 to 111:00. >> it will open today. >> it will open today. >> no, he said -- when i -- i said who knows when it will open. he goes, i know when it's going to open. >> 10:00 to 11:00 is not knowing when it's going to open. >> the point is is that instead of everybody freaking out this morning when it doesn't open at 9:30 or 9:345 or 10:15 or 10:30 or 10:45 as i can imagine happening -- >> well, with an ipo, they have to put all the stuff -- my monitor, look at my monitor. >> ocd boy who can't handle things going out of walk -- >> it's like a picture on the wall. now that's too much. >> there. it's fine. for anybody who didn't know, joe has issues. if you want to get to him, leave the closet door open. >> if they've seen the show, they know. >> anyway, andrew, this is really -- i can argue a lot of different things.
dropped below 13. with only a little more than a month left in 2013, why don't we look at this year's returns? the dow is up more than 22% at this point. the s&p is up nearly 26%. and the nasdaq is up by nearly 31%. by the way, if those numbers aren't big enough for you, check out how far stocks have come from their march 2009 lows. the dow over that time period gaining nearly 145%, the s&p 165%, and the nasdaq nearly 213%. yeah. march 2009 lows, what a long way we've come. as you take a look at futures this morning, they're flat-lining at this point, probably unsure what to do after yesterday's big gains. as for the rates with the ten-year, at this point the ten-year is yielding 2.782%, so below 2.8%, but it's been rising and rising on the expectation that the fed is going to have to start tapering at some point, and that will eventually lead to higher interest rates. >> the obama rally's in full force. 2009. what happened in 2008? >> the election. >> yeah, that's right. here we are, baby. rich people are getting richer, though. that's the only problem. >> i know that's your new pr
entrances to the bridge. >> look at this team of people. >> don't worry, they did this to me one time. >> this is lovely. >> these people are going to come out and they're going to go, clear! did you finally go around? you went through the lincoln tunnel? >> no, we didn't. we went around the whole round about. >> you had to come across the bridge, though. >> we came across the bridge, yes. >> finally came across the gw. >> yes. >> in 20 years, we've never done this, i don't think. >> wow, you look good. >> this is really good. >> amazing. >> andrew probably -- how about the news except there was a big storm this morning. >> it is a bit of a mess out there. in fact, if you're planning on traveling that massive winter storm that dumped snow in the west is now pummeling the east with a lot of wet weather this morning. as you would expect, this is reeking havoc on some thanksgiving travel plans. look out if you're on your way to work this morning, it is going to be a bit of a mess. reynolds wolf will join us from the weather channel in just a moment. you look good. >>> the dow and the s&p
the scene and let the merchants get back in and prepare it for reopening. we don't know yet about tomorrow. all of this, of course, coming on the cusp of the holiday season. guys. >> and after kenya and everybody was worried about the mall, the lone guy in the mall is everybody's biggest fear, obviously. and -- >> yeah. they may say they don't know how the guns got in -- >> yeah, i don't see any way of stopping it if someone wants to bring a -- you know, it's a free country. that's one of the downsides to being in the united states, i guess, is that -- >> yeah. that's -- >> down side to freedom. >> that said, joe, we talked to security officials after the kenya attack, you'll remember. and a lot of them said that the perimeter is supposed to be well out into the parking lot. but they're supposed to be looking for people who are coming in, looking for people exhibiting any signs. and, clearly, if this gun was not concealed, there will be questions about where they didn't catch it. because it's not just once you get into the doors of the mall, it's the parking lot and actually beyond that. >
it's concerns about whether janet yellin the fed chief will be in favor of tapering or not. why don't we blame obama care and people's fears for losing healthcare insurance. the washington grinch is stealing christmas. we are beginning to hear the next government shutdown will happen on schedule and this time it will be even worse. why don't we chill the business climate down entirely? is there any wonder best buy or urban outfitters is talking about an unspeakable holiday season? then you go out to dream force, the celebration of all things related to the new economy in america of success, of innovation. you know, you don't hear anyone complaining about washington at all, other than to mention how our government is poorly run by design. it's all about payback, second raiders and people that care more about ideology and social issues than they do about the economy. the politicians may pay lip service to the job creators. they spend way more time on guns and sexual whatever. if you want to know the truth of it, i would say washington is about creating problems for business. silicon v
in after hours trading. ceo marissa mayer speaking at its salesforce.com meeting last evening. >> we don't think we're treating ours as mobile first. when you look at what's happening with the mobile trend overall in our industry, it's clear that it is a -- and you can ride it through the invention. yahoo! like many companies, has to constantly reinvent itself. the scary part about reinvention is it happens with platform shift. >> there's a little bit of financial industry news for you this morning. jpmorgan holding a conference call with analysts after yesterday's announcement with that mortgage settlement with the government. jamie dimon explaining that most of the toxic numbers were inherited. >> bear stearns, did not had not happened that way, it was a house on fire. it was imploding. we did it because we had to. we never expected this to happen. >> pete williams caught up with attorney general eric holder, talked about the government settlement. >> one of the things that we worked on through this settlement was the possibility of the criminal investigation woon would not be preclude
you for joining us. what's your take on these markets here? you say you don't want to be underweight in an environment where you've got such easy money from the fed, is that right? >> absolutely. we have easy money all around the world, not only the fed but also in europe eurozone and japan. japan has been a big entrant to that. >> do valuations not counter into a decision on when to put money into equities right now? do you worry about valuations even though this market is going up on all of this easy money, as you say? >> yeah. valuations are high, particularly in small caps and in some of the consumer cyclicals. there are still areas for relative value. and i think there's still room for further margin expansion as we look sfwardforward into the future as we keep the asset bubble going. >> nathan? >> i see it that we're in a trading range. we're range-bound. most rallies start at about 11 on an p.e. and end or die around 19 or 20. when you see the 16 or 17 the hard part is that we're halfway between where we've been and where we're likely to go. and absent ne
, but you don't follow my rules. after spending the last few weeks yapping about the relative valuation, predicting a few weeks ago it would be $20 billion, i was being viewed, by the way, as crazy to ponder such a high price, i can safely say that everyone who bought it today has officially as they say in law school, come to the nuisance. you know you overpaid and you didn't care. that means caveat emptor. you've been warned and it didn't bother you one bit. as i said at the opening, there is free will. you have every right to overpay for a stock. believe me, if you bought it today, plain and simple, you overpaid. second, unlike the disaster that was facebook, the system totally worked here. it took an hour and a half for the new york stock exchange to open the stock. the stare of nyse euronext was overseeing the process. the goldman sachs banker behind the deal, a seasoned pro was there to make sure it went off without a hitch. it did. unlike facebook, the buyers and sellers met in an orderly way. everyone who wanted stock got in. i like that. i don't like deals where only a sliver of
making some money. i don't want to say it's totally lost on people, but i will point out that this is a revolution that's been embraced far more by the businesses using the disruptive technology that you'll hear about, and not you, not individuals who are enjoying the fruits of lower costs. but these are not amazon or priceline, two companies i like very much. although priceline only valued by traditional metrics. you need to know that context here. because by and large the companies you'll be hearing from have eluded many of you, or at least their concepts have and their missions have. their missions seem to befuddled people. when most of us think of tech, what do we? oracle, microsoft, cisco, intel, ibm. we don't think of salesforce.com or workday or viva as being tech. we think of the former being cheap and latter as being ridiculously overvalued. and yes, on traditional metrics that's probably true. but sometimes we forget why we invest in tech in the first place. we do not do it for cheapness. we do not do it for dividends, and we certainly don't do it for buybacks.
like him. i don't know. i fear the death of the medical profession. let's ask our guest. here now is dr. bill grace, also with us tonight, democratic strategist chris cofinas, heather and jim pethokoukis from the american enterprise institute. bill grace, let me start with you. are they just pricing doctors out? is this a deliberate strategy? 20 bucks a visit or -- that's crazy, absolutely crazy. >> they thought they had everything worked out on the front end of this whole deal. and you know what a disaster these turned out to be. i don't think they had any idea what they were going to do on the back end. but no one thought we were going to get more money from this. we were all thinking this was going to be -- if you remember two months ago, i said this was medicaid plus. slightly better reimbursement than medicaid. >> there's a long-term trend here. both for medicare and medicaid, to keep slicing an slicing and slicing down. hospital reimbursements, doctor reimbursements. this is part of that trend. why? why won't they reward doctors? >> basically they compare the price of physicians i
. >> unfortunately, i don't think too many cab drivers were talking about this. i wish they were. >> right. but it did get frothy and combined with the fed and people talking about that this was all pushed up by an accommodative fed around the world, the market ended up high. the ecb cut rates yesterday, the fed is still moving and the market closed down 150 after twitter priced. people do start saying, wow, there are some toppy things happening here. maybe they take a little bit off. when is the last time we had our 10%er? >> we haven't. and i need to do some more work on this. >> there were two public funds that owned private shares of twitter and they actually went down yesterday. >> that's weird, too. >> weird, too. >> and watching the other ones that were totally overheated, they went down, as well. >>> disney, i don't know, do we really care about a small company that barely does anything any more? no. disney is pretty important. >> yeah. >> disney, old media. an awesome company. very well managed. posting better than expected results after the close. the nebs were held by higher vis
, afc enterprises reports. i don't know if you them, because they're kind of a boring name. but that's the parent companies of popeye's louisiana kitchen. it's popeyes. and i'm expecting an excellent quarter because of the ceo is remodeling the stores and causes numbers to rise when she does. as we saw when with wendy's yesterday. the refurbishings could lead to estimates upward, which has been the trajectory of afc's conference calls for many, many quarters in the row. we'll also hear from the most controversial stock of the week, and that is cisco. when cisco last reported, the outlook was toxic, replete with layoffs that made it sound like cisco was really floundering. i was worried. it sounded pretty bad. now the stock has come down huge and while i do suspect we'll learn of weakness in government spending, there it is again, i think the expectations have finally been wrenched out here and the stocks risk reward is pretty darn good. plus, i believe that ceo john chambers was particularly down beat on the last call because of these firings. you can't be a good guy like chambers an
in the market today. >> i still don't understand this. interest rates go up, people in the markets think it's bad but only because they can go up. if they're going to taper, they're data-dependent. that means they see better things. i'm just fine with them getting on with tapering, stop talking about it. do it the right way, which isn't going to be easy, but it means things are better. they wouldn't be talking about it if it wasn't, so i'm fine with this tapering. >> but i guess at the end of the day it's about expectations, right, kimberly? if the market is not expecting a taper until now, the new expectation is march, perhaps june of 2014, what happens if, in fact, we were to see a taper next month? is that an unexpected surprise that sends markets going down? >> i think you might see that like back in april and may what we saw with the markets. but the reality is the taper in has to deal with the employment data and it's down 7.3. it's kind of a double-edged sword here. my feeling is that, you know, yes, we do have improving economy. yes, we have lower unemployment but the fed has a long
what was happening behind the curtain. >> waiting. >> i can't listen to it anymore. >> i don't know why people would think there's going to be -- given yellen's testimony, now i know greg ips said potentially she was repeating what bernanke was saying, didn't want to say anything new, but yellen didn't make it sound like they were tapering any time soon. >> good. >>> a number of headlines out of the dubai air show. emirates led the ordering with 150 new 777s mini jumbo aircraft. >> what's a mini jumbo aircraft. >> like a jumbo shrimp. >> i don't know, mini jumbo aircraft. a deal worth $76 billion. it also ordered 50 airbus a380s. boeing announced a total of 259 new 777 jets code named 777x. the deals are worth about 100 billion at list prices. the largest combined order though in boeing's history and in other industry news, we had this out of russia, at least 50 people were killed when a passenger plane crashed in central russia last night. it was a boeing 737. one of the safest planes on the planet. it was from moscow. it exploded after it tried to land once, tried to land again. ran i
&p futures up by 1.5 points. joe mentioned there are a few tests for the markets today, so why don't we take a look at the calendar on the economic side. we'll get the s&p case-shiller index-home prices for september at 9:00 eastern time. later, the consumer confidence number is released for september. we were originally speccing housing starts at 8:30 eastern today. permits will hit the tape, but the government is delaying the starts and completions again. they are still blaming the shutdown for this. the commerce department now plans to share that information on december 18th. >>> we go from the economy to earnings. this morning's horts include hormel, tiffany's, and barns & noble. >>> also, other market related news, takeover premiums are shrink to go historic lows. "the wall street journal" reports more than 9300 deals and so far this year the average premium has only by 19% of a target the week before. that compares to a historic average of 30%. among those factor tos are booming economy, a worry interest rates will rise. market vaum is an issue. you have to look in two different places
example, netflix. weather is bad. don't see "catching fire." it's too wet, too cold, too whatever. so stay home and watch netflix. go ask your kid ifs they love netflix. no one wants to ask his kids anything. what do they know about security analysis? i say we are in a buy what you like environment. i'm helpless to stop it. can we acknowledge that's what's happening and maybe try to profit? what's wrong with that? oh! cramer is gaming the process. the smart money types are gaming a process that says the stocks are overvalued. it's a game. but that game isn't as good as the one with i'm watching. the pros are watching the redskins lose to the 49ers game. me, i watching the patriots beat the broncos. better game. tune in. third, nothing freaks out the geniuses whole called the trillion dollar t shots more than when retail investors buy stocks that make warm weather clothing when it's cold though they are up a lot. they are ap plek tick about decker's. they can't believe you can make money on companies that make north face and uggs. trading the weather is too pedestrian for them. prosaic. thi
, is there's been no investment in real productive assets. across the united states. when you don't have -- when you have assets that are getting older and older, they're producing less and less cash. this is a problem for the long-term. it's a big problem. >> rob, what about that? i know you think this market is still cheap in terms of valuations. does it get -- does it keep moving higher if, in fact, we see rates move even lower and this expectation that unemployment marker should be lower than 6.5%? >> thanks, maria. yes, good to be with you. interesting question. look, i think the best position to be in in this market is to be a practicimatist. if you look ahead into next year, look at s&ps, bottoms-up estimates earnings at 122, if the pe stays the same at 16, that implies a price target of 1942, 1946. i think there is room to run. i think you have to take what the market and economy are giving you. so far that's been pretty good news. >> rich, you acknowledged dani, santelli, what about her point that we're sort of borrowing from the future to keep these rates as low as they are rig
apps guys. >> they said the same thing when netflix rolled out. >> i don't want to watch nerds developing apps. >> they're doing deep data to analyze every celebrity a person likes. it's a no-brainer. >> jon steinberg, thank you very much. that's it for today. join us tomorrow. now it's time for "squawk on the street." >>> good morning. welcome to "squawk on the street." our special coverage of twitter's initial public offering. i'm carl quintanilla with jim cramer and david faber at the new york stock exchange. twitter finally going public today, pricing 70 million shares, $26 each. that's above the expected range of 23 to 25. company will raise at least $1.8 billion and trade under the ticker twtr. the ipo values twitter at 14, $18 billion that, number still to be determined. we'll talk with twitter ceo dick costolo right after the opening bell, a lot of other special interviews throughout the morning. you've been tweeting. how meta is that about just how overallocated this is? >> i did just about ten minutes ago, speaking to a number of hedge fund managers this morning, who
to buy it at a discount is what i would say. fund managers don't say oh, my, fedex is so high. they think downgrade, here's my chance, and without paying up from yesterday. ironically in a lot of cases you do have the terrific chain and so that is a little bit of an anomaly. yes, lobe got loud after he got long. here's what you have to ask, are the professionals right to behave this way? i mean, you're an amateur at home, would you ever do anything like this? i think you have to look at it from the point of view of the professional. if you're running a fund that's underperforming the averages you will lose assets to other managers who did better than you next year. you may have loyal patrons, but if you have hot money and you finished in the bottom quartile of the performance log, you will take a serious pay cut next year, plus you can't market a fund that doesn't beat the averages, even if people do hedge to protect yourself. of course, there are always people who will look at your fund's long-term record and decide you're worth keeping. i mean, those are people who say that guy was in t
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